Prudential Financial Inc. boosted its stake in Alibaba Group Holding Ltd. (NYSE:BABA) by 28.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,233,148 shares of the company’s stock after buying an additional 273,300 shares during the period. Prudential Financial Inc.’s holdings in Alibaba Group Holding were worth $130,455,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Primavera Capital Management Ltd bought a new position in shares of Alibaba Group Holding during the third quarter valued at about $902,372,000. Temasek Holdings Private Ltd increased its position in shares of Alibaba Group Holding by 13.7% in the second quarter. Temasek Holdings Private Ltd now owns 54,076,397 shares of the company’s stock valued at $4,300,696,000 after buying an additional 6,526,596 shares in the last quarter. State Street Corp increased its position in shares of Alibaba Group Holding by 63.9% in the second quarter. State Street Corp now owns 16,141,308 shares of the company’s stock valued at $1,283,715,000 after buying an additional 6,292,030 shares in the last quarter. Jennison Associates LLC increased its position in shares of Alibaba Group Holding by 32.3% in the third quarter. Jennison Associates LLC now owns 22,516,980 shares of the company’s stock valued at $2,382,071,000 after buying an additional 5,496,854 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Alibaba Group Holding by 84.5% in the second quarter. BlackRock Fund Advisors now owns 11,966,477 shares of the company’s stock valued at $951,694,000 after buying an additional 5,481,106 shares in the last quarter. 34.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alibaba Group Holding Ltd. (NYSE:BABA) opened at 93.80 on Monday. The company’s 50-day moving average is $99.27 and its 200 day moving average is $90.87. The firm has a market cap of $232.44 billion, a price-to-earnings ratio of 50.11 and a beta of 2.93. Alibaba Group Holding Ltd. has a 1-year low of $59.25 and a 1-year high of $109.87.
Alibaba Group Holding (NYSE:BABA) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.03 billion. Alibaba Group Holding had a net margin of 26.44% and a return on equity of 13.29%. During the same quarter last year, the firm earned $0.57 EPS. On average, equities research analysts expect that Alibaba Group Holding Ltd. will post $3.26 EPS for the current fiscal year.
BABA has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Alibaba Group Holding from $96.00 to $129.00 and gave the stock an “overweight” rating in a research report on Friday, August 12th. RBC Capital Markets restated an “outperform” rating and set a $105.00 price objective on shares of Alibaba Group Holding in a research report on Thursday, August 11th. MKM Partners reiterated a “buy” rating and issued a $130.00 price target on shares of Alibaba Group Holding in a report on Tuesday, September 27th. Deutsche Bank AG reiterated a “buy” rating and issued a $109.00 price target (down from $115.00) on shares of Alibaba Group Holding in a report on Wednesday, August 24th. Finally, Zacks Investment Research downgraded Alibaba Group Holding from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 13th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $117.01.
About Alibaba Group Holding